SUNW Puts Rise; Nasdaq Tanks
Another downgrade in the chip sector sent the Nasdaq reeling Wednesday as it
posted a 3.1% decline. Oil services and chemicals were the day’s top sectors
while biotechs and semiconductors were the worst.
At the close, the VIX had increased 1.19 to 22.56.
The OEX September 820 calls fell 6 1/8 to 8 3/8.
Among bigger movers on heavier-than-average volume:
Sun Microsystems
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PowerRating) was one of the larger drags on the Nasdaq,
falling 7 7/16 to 117 5/8. The Sun Microsystems September 115 puts gained 2 1/4
to 2 15/16 on quadruple the average volume.
Micron
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PowerRating) ended the day down 8 1/2 to 70 while the Micron September 70
calls lost 6 7/8 to 3 1/8 on more than 1400 contracts.
In the battered biotech realm, Genentech
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PowerRating) fell 13 11/16 to 169 1/2.
The DNA September 170 calls lost 12 3/8 to 3 3/4 on triple the average volume.
Siebel Systems [SEBL:|SEBL] sank 12 3/16 to 182 9/16 while the SEBL September
170 puts jumped 2 1/8 to 2 3/4 on quadruple the average volume.